Commodities Daily - April 11, 2019
> Oil up on mixed EIA data, weak dollar; IEA monthly report eyed. Today, we think Brent will attempt to hold above $71/bbl (which we think it will manage to do), battling some profit taking following its recent surge. The monthly IEA report, just released, is likely to set the tone for the day. At first glance, it appears to be mixed, stating that "the oil market is tightening, yet global demand may falter."> Gold likely to fall from current $1,306-1,309/oz range. Yesterday, the ECB kept interest rates on hold, while the minutes from the March FOMC meeting showed that the Fed did not anticipate a change in rates before the year-end. We expect a correction in the gold market unless new catalysts emerge. We believe there is a chance that gold will drop below $1,300/oz in the coming days.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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